Newcastle Intermediaries launches BTL products in Scotland

Newcastle Intermediaries is now offering its range of buy-to-let mortgage products to borrowers in Scotland.

The deals are two- and five-year fixed rate products starting at 2.25 per cent with a maximum LTV of 75 per cent.

The lender adds that the offerings have a maximum loan value of £500,000, no maximum age at the end of the term, and all the cases are individually underwritten.

Newcastle Intermediaries’ interest coverage ratio on its five-year fixed rate products are assessed to 145 per cent at 4 per cent, and the assessment of rental cover is calculated on an interest-only basis, according to the firm.

Newcastle Intermediaries customer director Stuart Miller says: “We are pleased to be extending into Scotland after serving England and Wales for more than three years.

“As we already lend there on a residential, self-build and a custom build basis, it made sense to extend the offering of our BTL proposition into Scotland.”

This comes after Newcastle Intermediaries reduced product rates on a number of its 95 per cent LTV offerings.

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